Companies of Smart Holding Group paid UAH 900 million in taxes and fees to budgets of all levels in the first quarter of 2023*.
Since the beginning of the full-scale Russian invasion, businesses of Smart Holding Group have suffered significant losses, but despite all the circumstances, the holding company is doing everything to keep up the production process where possible, support employees, and lay the foundations for the rapid resumption and restoration of production cycles at temporarily idle enterprises after the liberation of territories. A set of anti-crisis measures, which the holding company introduced after the beginning of the war, made it possible to operate and further support production all this time. During the 14 months of the war, Smart Holding Group allocated more than USD 40 million** for humanitarian projects and assistance to Ukraine.
Smart Holding has been one of the major business operators in Ukraine for almost 30 years. The Group’s enterprises operate in seven sectors of the economy and provide stable jobs to about 3,000 Ukrainians. All the businesses of the holding company work for the economy of our state. Over the past 5 years alone, the amount of taxes from the investment group totalled more than UAH 11.6 billion, and the contribution to energy independence for the same period was 1.652 million cubic meters of gas. In addition, the Group’s companies continue to search for foreign investors: despite the war, they succeeded in reaching agreements to attract USD 3 billion in investments.
Despite the efficiency and undoubted benefits, businesses of Smart Holding Group are currently on the verge of stopping their operations. Since the companies of the former owner Vadym Novynskyi were forcibly returned to the ultimate beneficiaries, which occurred with a gross violation of the rights of Cypriot trustees, state authorities seized the Group’s assets and suspended its licences. Because of these steps, every day Ukraine suffers losses by receiving fewer taxes and energy resources, which is inconceivable indeed, especially when the country is in a state of war.
* excluding companies of Metinvest Group and HarvEast
** taking into account the share of ownership in Metinvest and the amount of humanitarian aid of this company
Reference:
Smart Holding is one of the largest investment groups in Ukraine. The Group’s interests are focused on industries that are key to the country’s economy. The companies of the Group invest in assets of the mining and metallurgical, oil and gas industries, agriculture, shipbuilding, real estate and energy sectors. Smart Holding’s strategy is aimed at effective management of a diversified investment portfolio in order to increase its value in the long run.
Smart Holding (Cyprus) LTD is a top holding company of the Group, which was established and operates under the legislation of the Republic of Cyprus. Its beneficiaries are citizens of the Republic of Cyprus, acting within the framework of Smart Trust and Step Trust.
